In the last trading session, 6.88 million Vir Biotechnology Inc. (NASDAQ:VIR) shares changed hands as the company’s beta touched 0.17. With the company’s per share price at $9.82 changed hands at -$0.22 or -2.19% during last session, the market valuation stood at $1.35B. VIR’s last price was a discount, traded about -221.28% off its 52-week high of $31.55. The share price had its 52-week low at $9.89, which suggests the last value was -0.71% down since then. When we look at Vir Biotechnology Inc.’s average trading volume, we note the 10-day average is 2.51 million shares, with the 3-month average coming to 1.41 million.
Analysts gave the Vir Biotechnology Inc. (VIR) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 9 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 2 recommended VIR as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Vir Biotechnology Inc.’s EPS for the current quarter is expected to be -$1.21.
Vir Biotechnology Inc. (NASDAQ:VIR) trade information
Instantly VIR was in red as seen at the end of in last trading. With action -10.73%, the performance over the past five days has been red. The drop to weekly highs of 11.25 on Friday, 09/15/23 subtracted -2.19% to the stock’s daily price. The company’s shares are showing year-to-date downside of -61.20%, with the 5-day performance at -10.73% in the red. However, in the 30-day time frame, Vir Biotechnology Inc. (NASDAQ:VIR) is -23.64% down. Looking at the short shares, we see there were 4.57 million shares sold at short interest cover period of 4.5 days.
The consensus price target for the stock as assigned by Wall Street analysts is $32.75, meaning bulls need an upside of 70.02% from its current market value. According to analyst projections, VIR’s forecast low is $14.00 with $95.00 as the target high. To hit the forecast high, the stock’s price needs a -867.41% plunge from its current level, while the stock would need to soar -42.57% for it to hit the projected low.
Vir Biotechnology Inc. (VIR) estimates and forecasts
Data shows that the Vir Biotechnology Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -59.39% over the past 6 months, a -221.67% in annual growth rate that is considerably lower than the industry average of 11.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Vir Biotechnology Inc. will fall -193.10%, while the growth in revenue is estimated to hit -36.80% for the next quarter. Year-over-year growth is forecast to reach -95.00% down from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $9.31 million. 5 analysts are of the opinion that Vir Biotechnology Inc.’s revenue for the quarter ending Dec 2023 will be $13.84 million. The company’s revenue for the corresponding quarters a year ago was $171.45 million and $49.41 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -94.60%. The estimates for the next quarter sales put growth at -72.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 92.00%. The 2023 estimates are for Vir Biotechnology Inc. earnings to decrease by -3.40%, but the outlook for the next 5-year period is at 7.00% per year.
Vir Biotechnology Inc. is expected to release its next quarterly earnings report in October.
Vir Biotechnology Inc. (NASDAQ:VIR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 14.26% of Vir Biotechnology Inc. shares while 75.95% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.58%. There are 75.95% institutions holding the Vir Biotechnology Inc. stock share, with SB Investment Advisers (UK) LTD the top institutional holder. As of Jun 29, 2023, the company held 12.43% of the shares, roughly 16.68 million VIR shares worth $409.26 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 10.41% or 13.97 million shares worth $342.81 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 5.38 million shares estimated at $68.11 million under it, the former controlled 4.01% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.33% of the shares, roughly 3.12 million shares worth around $76.59 million.